A Duke company official said the company was claiming the money as a business expense for tax purposes, meaning shareholders will foot $6 million of the cost, according to a report in the Charlotte Observer.

Um, does this mean that the taxpayers, in the form of $4,000,000 of decreased tax revenue, are covering the balance of the $10,000,000?!?!

There is much more to the story, but let’s just think green and everything will be fine.

]]>By: weaselyonehttp://hotair.com/archives/2013/03/01/the-corporation-less-democratic-convention-that-wasnt/comment-page-1/#comment-6764822
Fri, 01 Mar 2013 21:48:02 +0000http://hotair.com/?p=247254#comment-6764822The large Energy companies don’t have a single care in the world when it comes to environmental regulation.

Unlike heavy industry, energy companies face no foreign competition. There is localized competition, but due to government regulation one would hardly call it competition.

If the EPA requires them to add expensive pollution controls, they hardly resist. They are able to directly pass the cost on to consumers. As long as the environmental rules apply across the board to energy companies, you will not see them fight with anything more than what is required to convince rate payers that they tried their best.

In fact, I would argue that the large energy companies love additional regulation. It narrows the playing field to the point that only the big boys can play, while allowing them to raise prices. Raising prices and keeping margins the same allows for larger profits.

One of the situations where a market-based economy breaks down due to government interference.

Meanwhile, heavy industrials get hammered by environmental regulations and are unable to pass the costs along wihtout losing market to imports. Add in the increased energy costs for those manufacuterers due to Energy companies rolling over and you get a double whammy that explains the loss of over 6 million high paying manufacturing jobs since 1998.

The only ones defending energy companies from increased regulations are the manufacturers. It is extremely hard to defend someone who won’t defend themself.

This disgusts me. Duke has a few manufacturing guys on their board. I simply cannot for the life of me understand how they could have approved of this.

The company donated $1.5 million in in-kind contributions to the host committee for office space, furniture and other expenses. Rogers personally gave $339,000 in cash and in-kind services, including the hiring of a fundraising assistant.

Duke also gave $4.1 million to a separate fund that could accept corporate money to put on parties boosting the city.

So we’re up to almost $16 million.

Some watchdog groups charged that Duke’s money would buy the highly-regulated company unfair influence with Obama administration officials.

Duke and Progress Energy each got $200 million in federal stimulus money for smart grid improvements in 2009. Duke’s Cliffside power plant won a $125 million “advanced coal” tax credit from the Department of Energy, and a plant under construction in Indiana got $460 million in federal, state and local incentives.

A Political donation as a “Business Expense ” ?
And they get to lower their tax liability ?
What do they expect to gain for the $6 million ?

Bad Mojo going on here.

Jabberwock on March 1, 2013 at 3:42 PM

No, no, no! You’re not getting it!

This was not a political donation! It was a loan! Got that? A loan!

Yeah, it was a bad loan, and they knew the borrower would never be able to pay it back, but hey, that’s perfectly kosher in the housing loan industry in order to keep your bank out of trouble with the CRA, so what’s so different about this? It’s actually a bargain — only cost them a few 10’s of millions. Taxpayers got put on the hook for billions from the housing loan debacle. In both cases, the parties making the “loans” were buying political favor.

The [DNC] ended [January] with about $4.7 million cash in the bank and an outstanding debt of nearly $20.8 million, according to records filed Wednesday with the Federal Election Commission.

… and with the office of the President and a solid majority in the Senate. With the probable ability to appoint at least one if not two left wing communist and Constitutionally illiterate Supreme Court Justices in the next four years.

…

Earlier Wednesday, the Republican National Committee announced it raised $6.9 million in the month, ending January with no debt and $7.1 million in the bank.

… and with control of a single part of the Federal government. With a weak-spined liberal Speaker of the House who has now used the democrat minority and some fellow “moderate” Republicans to pass democrat sponsored bills over the wishes of the majority of Republican congressmen.

So, tell me again who is the smart party and who is the not so smart party?

A Duke company official said the company was claiming the money as a business expense for tax purposes, meaning shareholders will foot $6 million of the cost, according to a report in the Charlotte Observer.

A Political donation as a “Business Expense ” ?
And they get to lower their tax liability ?
What do they expect to gain for the $6 million ?

This is a lot like playing football with Lucy, they keep doing the same trick over and over. By the time the LIV types figure out the game, it will be over.

CrazyGene on March 1, 2013 at 3:30 PM

It’s the same thing with Wile E. Coyote and that damned Roadrunner.

Chuck should’ve just kicked the shit out of Lucy.

]]>By: NapaConservativehttp://hotair.com/archives/2013/03/01/the-corporation-less-democratic-convention-that-wasnt/comment-page-1/#comment-6764595
Fri, 01 Mar 2013 20:33:24 +0000http://hotair.com/?p=247254#comment-6764595What’s a convention? Anywho, I wonder who the Kardashian’s are fukcing at the moment?